Every: Anthropic's S-1 shows models older than six months earn under 20% of revenue

Anthropic's S-1 filing shows that models older than six months earn less than 20 percent of its revenue, a sign of how quickly users switch to new releases. The filing also reports $16.3 billion in revenue for the first half of 2026, before its newest models Opus 5.5 and Fable 5.1 shipped, and says customers from a year ago now pay about nine times as much. Anthropic says its latest releases cut customers' cost per task by 25 to 45 percent through lower prices and more efficient models.